MainStreet Bank (NASDAQ:MNSB) Trading Down 1.8% – Time to Sell?

MainStreet Bank (NASDAQ:MNSB) dropped 1.8% during trading on Thursday . The stock traded as low as $24.06 and last traded at $24.29. 30,771 shares changed hands during trading, a decline of 36% from the average daily volume of 47,741 shares. The stock had previously closed at $24.74.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised MainStreet Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

MainStreet Bank Stock Up 2.6%

The firm has a market cap of $177.36 million, a P/E ratio of 12.52 and a beta of 0.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s fifty day moving average is $23.57 and its 200 day moving average is $22.29.

MainStreet Bank (NASDAQ:MNSB) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. MainStreet Bank had a net margin of 12.94% and a return on equity of 9.13%. The firm had revenue of $1.39 million during the quarter, compared to the consensus estimate of $20.30 million. As a group, equities research analysts anticipate that MainStreet Bank will post 2.26 earnings per share for the current fiscal year.

MainStreet Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, May 4th. MainStreet Bank’s dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

In other MainStreet Bank news, CFO Richard Alexander Vari sold 4,500 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $23.20, for a total transaction of $104,400.00. Following the transaction, the chief financial officer owned 34,036 shares in the company, valued at $789,635.20. This trade represents a 11.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.17% of the stock is owned by insiders.

Hedge Funds Weigh In On MainStreet Bank

A number of hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in MainStreet Bank by 9.7% in the 1st quarter. Empowered Funds LLC now owns 34,396 shares of the company’s stock valued at $764,000 after purchasing an additional 3,034 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in MainStreet Bank during the first quarter worth approximately $61,000. Dimensional Fund Advisors LP increased its stake in MainStreet Bank by 20.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 166,633 shares of the company’s stock worth $3,699,000 after acquiring an additional 28,282 shares during the period. Mendon Capital Advisors Corp increased its stake in MainStreet Bank by 22.8% during the 4th quarter. Mendon Capital Advisors Corp now owns 47,312 shares of the company’s stock worth $963,000 after acquiring an additional 8,786 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in MainStreet Bank by 17.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 60,742 shares of the company’s stock valued at $1,237,000 after acquiring an additional 9,155 shares in the last quarter. 52.29% of the stock is owned by institutional investors.

About MainStreet Bank

MainStreet Bank Group, Inc (NASDAQ: MNSB) is the bank holding company for MainStreet Bank, a community bank headquartered in Westborough, Massachusetts. Through its subsidiary, the company provides a full range of commercial and consumer banking services designed to meet the financial needs of individuals, small businesses, and non-profit organizations. Its core focus is on building long?term relationships within the communities it serves.

MainStreet Bank’s product suite includes deposit accounts such as checking, savings, money market and certificate of deposit offerings, as well as a variety of lending solutions.